The Greater Baltimore Committee will launch an initiative later this year to come up with specific strategies for making Maryland a more competitive state for business.

The group plans to solicit ideas from CEOs across the region in advance of a planned conference in Baltimore on June 12, GBC CEO Donald C. Fry said in prepared remarks at the group’s annual meeting on Wednesday evening.

“Meanwhile, the GBC’s singular overarching policy focus – now and going forward – boils down to one word: competitiveness,” Fry said before an audience of about 800 people at the Hyatt Regency Baltimore.

In his remarks, GBC chair Brian C. Rogers touched on some of the challenges Maryland faces to become more competitive. The state’s strengths include a skilled workforce and quality public schools and universities. At the same time, Maryland’s regulatory environment and tax structure hamstring efforts to create more jobs, said Rogers, the chairman of T. Rowe Price Group Inc. (NASDAQ: TROW).

“If we are successful, our collective efforts will result in one huge benefit: a faster rate of job creation, jobs at all education levels that will stimulate economic growth, expand our tax base, provide more support for essential government services and opportunities for future generations,” Rogers said.

The GBC won a number of legislative victories in the General Assembly session that ended April 8.

Lawmakers passed a GBC-backed gas tax increase that will mean millions for transportation improvements, as well as a new cyber security tax credit and expanded tax credits for film and television production, research and development and biotechnology. Legislation passed during the session will also encourage more partnerships between state government, such as the redevelopment of the Maryland House and Chesapeake House rest stops on Interstate 95.